Leaky revenue is essentially money that businesses lose due to various errors like billing mistakes, overlooked contract details, and more. These issues might slip under the radar but can heavily affect a company's profits. Studies, including those by World Commerce & Contracting, show a troubling pattern: companies often lose around 9.2% of their annual revenue to missed deadlines, hidden terms, and unfulfilled obligations. Properly managing and making your contracts efficient is key to stopping these losses.
Finding the Leak
To plug these revenue leaks, you first need to know where they're happening. Organizing your contracts to keep an eye on renewal dates, understanding terms and obligations, and tracking any discounts or rebates are important steps to identifying where you might be losing money.
But this task isn't as straightforward as it sounds. The sheer number and complexity of contracts can make sorting through them a significant challenge that many businesses simply don't have the time or resources to tackle.
Effortless Contract Management Is Possible
Forget the days of poring over each contract by hand to find crucial information or missing key contact details that lead to revenue loss. With LegalSifer Organize, our proven AI technology takes on the hard work of sorting and highlighting the details you need to see, while our contract experts ensure everything is correct and aligned with your business goals. Keeping a “human in the loop” allows you to spot and fix revenue leaks fast, protecting your bottom line. We also guarantee your contract documents and data reach over 99% accuracy, surpassing the 70% accuracy rate typical of automatic extraction offered by other leading software-only providers.
Take Charge of Your Revenue
Make managing contracts easy with LegalSifter Organize. Our solution uses AI software and expert service to help you handle contracts without the headache.This collaboration offers significant time savings and reliable outcomes. Our unique approach is designed to safeguard your earnings and make your business stronger. Transition from manual tasks to a proven method of managing contracts with guaranteed results.
Get in touch with our team today and learn how LegalSifter Organize will move you towards accurate, streamlined contract management.
